Otelco Inc (NASDAQ:OTEL) major shareholder Ira Sochet purchased 11,751 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were purchased at an average cost of $15.97 per share, with a total value of $187,663.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Ira Sochet also recently made the following trade(s):

Get Otelco alerts:

On Wednesday, November 28th, Ira Sochet purchased 10,992 shares of Otelco stock. The shares were purchased at an average cost of $16.02 per share, with a total value of $176,091.84.

On Wednesday, October 24th, Ira Sochet purchased 5,228 shares of Otelco stock. The shares were purchased at an average cost of $15.92 per share, with a total value of $83,229.76.

Shares of NASDAQ OTEL opened at $16.20 on Thursday. The company has a debt-to-equity ratio of 8.31, a current ratio of 1.13 and a quick ratio of 0.91. The firm has a market cap of $54.89 million, a price-to-earnings ratio of 7.40 and a beta of 0.59. Otelco Inc has a 1 year low of $12.10 and a 1 year high of $17.75.

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Otelco by 930.7% during the 2nd quarter. BlackRock Inc. now owns 8,359 shares of the technology company’s stock valued at $125,000 after purchasing an additional 7,548 shares in the last quarter. Raffles Associates LP bought a new stake in shares of Otelco during the 2nd quarter worth $300,000. Finally, Vanguard Group Inc. boosted its stake in shares of Otelco by 19.6% during the 3rd quarter. Vanguard Group Inc. now owns 70,784 shares of the technology company’s stock worth $1,231,000 after acquiring an additional 11,600 shares in the last quarter. 10.42% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “Ira Sochet Buys 11,751 Shares of Otelco Inc (OTEL) Stock” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The legal version of this story can be read at https://www.dispatchtribunal.com/2018/12/06/ira-sochet-buys-11751-shares-of-otelco-inc-otel-stock.html.

Otelco Company Profile

Otelco Inc provides a range of telecommunications services on a retail and wholesale basis. Otelco Inc, together with its subsidiaries, provides a range of telecommunication services on a retail and wholesale basis. It offers local services, including voice access lines that provide local dial tone and calling features, such as caller identification, call waiting, call forwarding, and voicemail; long distance services; billing and collection services for other carriers under contract; directory advertising services; and other telephone related services comprising leasing, selling, installing, and maintaining customer premise telecommunications equipment, as well as the publication of local telephone directories and wireline voice telephone services.